The ITAT Ranchi directed an inquiry into cash deposits of ₹26.60 lakh, telling the Assessing Officer to verify the assessee’s claim of income from a building material business.
The ITAT Ranchi quashed a reassessment against SGS Real Estates Pvt. Ltd., ruling the approval for reopening the case was invalid due to procedural defects and a lack of conscious application of mind by the PCIT.
The ITAT Ranchi deletes a ₹1.67 crore addition to a hardware merchant’s income, ruling that cash deposits during demonetisation were explained by recorded sales.
The ITAT Ranchi quashed a Section 263 order, ruling that a tax revision cannot be based solely on an audit objection or for the re-examination of an issue already reviewed by the AO.
The ITAT Ranchi upholds an assessee’s appeal, ruling that the Assessing Officer must provide evidence to substantiate additions made solely based on ITS data.
ITAT Ranchi quashes orders applying the 60% tax rate of Section 115BBE to A.Y. 2017-18, clarifying the amendment is effective from A.Y. 2018-19.
The ITAT Ranchi has ruled that an Assessing Officer cannot reopen an assessment based on “reason to suspect,” distinguishing it from “reason to believe.”
ITAT Ranchi dismisses Revenue’s appeal against deletion of Section 270A penalty on Uranium Corporation of India Ltd., citing inadvertent error and no revenue impact due to MAT.
ITAT Ranchi remands case to verify if Rs 31,900 received by taxpayer was lottery winnings or a gift, citing lack of factual inquiry.
ITAT Ranchi sets aside ex parte orders against NGO Birsa Gramin Vikash Evam Prashikshan Sanstha, citing natural justice for fresh hearing on cash addition.
